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Title

Active bond management, negative interest rates, liquidity, and the myth of macro-prudential risk management

Event Description

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CFA Japan Seminar Announcement】 

Title: Active bond management, negative interest rates, liquidity, and the myth of macro-prudential risk management
You've got to be very careful if you don't know where you are going, because you might not get there. ----Yogi Berra


Date: December 3rd (Tuesday), 2019, 18:30-20:00

Venue: Conference A, Otemachi Place Conference Center, 1st Floor, Otemachi Place, 2-3-1 Otemachi, Chiyoda-ku, Tokyo

https://conference.otemachi-place.jp/access.html

※Please note the seminar venue is NOT FINE TOKYO at this time. Otemachi Place is 1 minute walk from A5 Exit of Otemachi Station of Tokyo Metro Subway.

*Otemachi Place is a new building that is 1 minute walk to cross the street from FINE TOKYO.

Language: English

Topics: Fixed Income Investments, Economics (CE credit eligible)

Speaker: Mr. Laird R. Landmann (Group Managing Director, Co-Director Fixed Income, TCW)

Fee: CFA Japan Members, CFA Members of other societies, Associate Members, Professional Members:Free,

Candidate Non Members: JPY 2,000 

Non-members: JPY 3,000


Outline

-     Current policy objectives in the developed world and recent changes to the monetary policy framework including recent acceleration towards inflation targeting by central banks.

 

-     Current negative interest rates implications and potential policy implications going forward.

 

-      Overall Marco prudential framework and its implications for asset prices, credit conditions and active management going forward.

 

-      Potential fixes for what is perceived as the economic problems (lack of inflation, wages and growth).

 

-      Fundamentals of demographics, technological change, global trade and other forces aligned against current policy goals.

 

-      Potential side effects of the conflict between fundamental economic shifts and policy changes. 

 

-      How these forces have and will:

Impact active management

Change credit conditions

CLOs and leveraged finance - a virtuous or vicious cycle?

Create misperceptions around liquidity and creditworthiness in the markets

Shape the tone of the next deleveraging


Speaker

Mr. Landmann is a Generalist Portfolio Manager in the Fixed Income Group. He joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest). Mr. Landmann currently serves on the boards of the TCW and Metropolitan West Mutual Funds. Mr. Landmann currently co-manages many of TCW and MetWest's mutual funds, including the MetWest Total Return Bond Fund, the MetWest High Yield Bond Fund and the TCW Core Fixed Income Fund, and leads the fixed income group's risk management efforts. He is a leader of the MetWest investment team that was recognized as Morningstar's Fixed Income Manager of the Year for 2005 and has been nominated for the award eight times. Prior to founding MetWest in 1996, Mr. Landmann was a principal and the co-director of fixed income at Hotchkis and Wiley. He also served as a portfolio manager and vice president at PIMCO. Mr. Landmann holds an AB in Economics from Dartmouth College and an MBA from the University of Chicago Booth School of Business..


Registration

If you wish to attend this seminar, please register via website.

https://cfainstitute.force.com/eventapi__router?event=a1O3Z000003aQry&site=a0Wj000000Dv6cB

 

CFA Society Japan  
info@cfaj.org

Event Type

Society

Education Topic

Economics; Fixed Income

Start Time

2019/12/03 18:30

End Time

2019/12/03 20:00

City

Tokyo

State/Province

 

Event Country

 

Event Region

Asia Pacific

Location Info

Venue: Conference A, Otemachi Place Conference Center, 1st Floor, Otemachi Place, 2-3-1 Otemachi, Chiyoda-ku, Tokyo

https://conference.otemachi-place.jp/access.html


Speaker

 Mr. Laird R. Landmann (Group Managing Director, Co-Director Fixed Income, TCW)

CE Credits

1.5

SER Credit

0

Currency

yen

Member Price

0

Non-Member Price

3000

Candidate Price

2000

Registration

​If you wish to attend this seminar, please register via website.

https://cfainstitute.force.com/eventapi__router?event=a1O3Z000003aQry&site=a0Wj000000Dv6cB


All Day Event

 

Recurrence

 

End

2019/12/03 20:00

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Event Short Info

 

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Attachments

Content Type: MyCFA Calendar
Created at 2019/11/08 17:17 by shiozawa@cfaj.org
Last modified at 2019/11/08 17:19 by shiozawa@cfaj.org